MONEY FOR ROADING.
| METALLING LOANS
i THE SUBSIDY QUESTION,
i During the course of an interview i last week, the county chairman, Mr A. Scholes, referred to the matter of being promoted by the settlers in various parts of the county. He said that originally the County Council rej ceivid notice from the Advances De- | part licit to the eHect that in respect | to new loans no greater amount than ! £IOOO would be granted in anv one I lean. This amount had been increased in certain instances, and as much as £2OOO had bem granted in respect to one loan. Stiii, as far as this district was concerned the cutting down of the loans was going to have a very serious effect, and it was as well the settlers in the various dis trits should have the position made clear to them. Taking the ease of the i Pungarehu loan, in which the settlers : had determined to go ahead with j the work irrespective of whether a , subsidy was granted for the loan or : not. The amount applied for was j £2BOO and work to that extent was ] planned, and the special rating area j fixed accordingly. The department granted £2OOO, but could not commit itsely with respect to the balance. If the money was available next year the balance would no doubt be granted, but if the money wa3 not available the county would have to raise the balance from outside sources, and a greater rate of interest would have to be paid for it. This was taking the least complicated case, and it'was apparent a great amount of extra work and negotiating would be required to arrange the matter satisfactorily. In many cases loans were being promoted on the contingency that £ for £ subsidies were, granted. Taking the case of the Kio Kio loan which was for £SOOO with a provision that a subsidy was granted. The whole amount of the loan couid not be granted, and ss?uming that an amount of £2OOO was ganted as portion of the loan. It a j
subsidv was provided by Parliament it would not be more than the corresponding amount ot the loaf, making total of £4OOO. If the County Council had to raise ihe baiancs of the loan from outside sources it would mean that the balance of £3OOO would be without subsidy, and it would be impossible to carry out the work provided in the proposal. Under existing conditions it was impossible to promote loans for anything ? ave small works, and in newly settled country the desirability of getting fairly large special areas was obvious. In the ease of loans for which subsidies were applied the settlers in the majority of cases would have to pay a rate approaching 3d in the £, and if the subsidy was not granted this would be doubled if the work was proceeded with. Under these conditions it was apparent what a burden the settler would be required to shoulder if the roading of the district was to be carried out. The
money stringency was likely to effect the progress of the district considerably and the necessity of promoting small racing areas under existing conditions was apparent.
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King Country Chronicle, Volume VII, Issue 600, 6 September 1913, Page 5
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532MONEY FOR ROADING. King Country Chronicle, Volume VII, Issue 600, 6 September 1913, Page 5
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